BTC Possible Entry to Wyckoff Accumulation Pattern for BYBIT:BTCUSD by LASultan

After seeing some content describing the correlation between BTC’s recent price activity and the Wyckoff Distribution pattern (many thanks to YouTuber “Uncomplicated”!) and seeing how perfectly they matched, I took the next logical step to project what it might look like if we transitioned directly into a Wyckoff Accumulation pattern.

This Idea presents one possibility of what that might look like. I have drawn this Idea to be intentionally pessimistic, as I am “planning for the worst & hoping for the best”. Based on this work, I am preparing for the possibility that I may need to HODL my BTC down to a price point of approximately $15k … something I would have thought impossible a few months ago, but it doesn’t seem so impossible anymore. The upside of that, obviously, would be to accumulate additional crypto during this cycle.

NOTE: I HOPE I’M WRONG ON THIS! I am long-term bullish on crypto projects in general & BTC in specific. As a career technologist, I believe deeply in the purpose & mission of crypto assets, and what they can provide in our world. I am hoping for a best case scenario where the recent plunge to $29k is the absolute lowest bottom we ever see again for BTC … but I wouldn’t bet my life on it.

For a description of Wyckoff theory, see the link below.

Most Related Links :
todaybiznews Governmental News Finance News

Source link

Back to top button